Allspring Global Investments Holdings LLC Raises Position in United Parcel Service, Inc. (NYSE:UPS)

Allspring Global Investments Holdings LLC raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,623 shares of the transportation company's stock after buying an additional 28,108 shares during the period. Allspring Global Investments Holdings LLC's holdings in United Parcel Service were worth $16,304,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. IFS Advisors LLC boosted its holdings in shares of United Parcel Service by 232.3% during the fourth quarter. IFS Advisors LLC now owns 216 shares of the transportation company's stock worth $27,000 after purchasing an additional 151 shares during the period. True Wealth Design LLC boosted its holdings in shares of United Parcel Service by 397.7% during the third quarter. True Wealth Design LLC now owns 214 shares of the transportation company's stock worth $29,000 after purchasing an additional 171 shares during the period. PSI Advisors LLC boosted its holdings in shares of United Parcel Service by 408.2% during the third quarter. PSI Advisors LLC now owns 249 shares of the transportation company's stock worth $34,000 after purchasing an additional 200 shares during the period. Princeton Global Asset Management LLC boosted its holdings in shares of United Parcel Service by 720.0% during the third quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company's stock worth $34,000 after purchasing an additional 216 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of United Parcel Service during the third quarter worth about $36,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the sale, the insider now owns 45,098 shares in the company, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

United Parcel Service Stock Up 1.3 %

Shares of UPS traded up $1.55 on Thursday, hitting $116.55. 5,797,212 shares of the stock traded hands, compared to its average volume of 6,643,361. The company has a market capitalization of $99.46 billion, a PE ratio of 17.24, a P/E/G ratio of 1.53 and a beta of 0.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The business has a 50 day simple moving average of $123.71 and a 200 day simple moving average of $128.48. United Parcel Service, Inc. has a one year low of $109.40 and a one year high of $158.95.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the prior year, the company earned $2.47 earnings per share. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $6.56 annualized dividend and a yield of 5.63%. This is a boost from United Parcel Service's previous quarterly dividend of $1.63. United Parcel Service's dividend payout ratio (DPR) is currently 97.04%.

Analyst Upgrades and Downgrades

UPS has been the subject of a number of analyst reports. Oppenheimer increased their target price on shares of United Parcel Service from $140.00 to $146.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Bank of America dropped their target price on shares of United Parcel Service from $150.00 to $133.00 and set a "buy" rating for the company in a report on Friday, January 31st. Argus upgraded shares of United Parcel Service from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Wolfe Research upgraded shares of United Parcel Service from a "peer perform" rating to an "outperform" rating and set a $147.00 price objective for the company in a report on Wednesday, January 8th. Finally, UBS Group lowered their price objective on shares of United Parcel Service from $170.00 to $141.00 and set a "buy" rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.73.

United Parcel Service Company Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.